The creation of the Troubled Asset Relief Program on October 3, 2008, was the initial step in a massive redistribution of wealth and restructuring of class relations in the United States and internationally.

As US workers’ wages continue to fall

By the end of the year, American corporations will have enriched their top executives and investors with $2.5 trillion obtained through stock buybacks, increased dividend payments, and mergers and acquisitions.

Wage stagnation amidst relatively low unemployment and accelerating economic growth is the outcome of a decades-long social counterrevolution, made possible by the trade unions’ suppression of the class struggle.

The decision by the Trump Administration to initiate a trade war between the world’s two largest economies will contribute to the already growing tensions and danger of military conflict in the Asia-Pacific region.

The federal courts and the state government are relinquishing direct control over city operations, entrusting further budget cuts and austerity measures to the administration of Democratic Mayor Mike Duggan.

The apparent turnaround is motivated by two immediate considerations: the need to be seen as taking action to alleviate pressure on US farmers threatened by the China tariffs, and the search for international allies against China.